Discounting of bills of exchange is

Related MCQs

• Which of the following is/are true about bill of exchange? A) A bill of exchange requires in its inception two parties. B) A bill of exchange or “draft” is a written order by the drawer to the drawee to pay money to the payee. C) Bills of exchange are used primarily in international trade, and are written orders by one person to his bank to pay the bearer a specific sum on a specific date. D) Definition of ‘Bill of Exchange’ is mentioned in Section 6 of the Negotiable Instrument Act.
• There is legal obligation for a banker to collect the bills of exchange for its customer.
• In case of collection of cheques and bills, the relationship of the banker with the customer is that of
• Bankers undertake the duty of collection of cheques and bills because......
• A drawer in the bill of exchange can also be a
• The rate at which RBI discounts approved bill of exchange is
• In a bill of exchange, drawee is the person
• Which of the following section in the Negotiable Instruments Act deals with the Bill of Exchange?
• If the holder of a bill of exchange allows the drawee more than ___ hours, exclusive of public holidays, to consider whether he will accept the same, all previous parties not consenting to such allowance are thereby discharged from liability to such holder.